Pakistan government allows export of 5 lakh tonnes of additional sugar

17-Oct-2024 08:41 PM

Islamabad. The Central Cabinet of Pakistan has approved the decision of the Economic Coordination Committee (ECC) in which it was proposed to allow the export of 5 lakh tonnes of additional sugar from the country. A circular has also been issued for this.

It is noteworthy that an important meeting of the ECC was held on October 11 in which it was decided to allow the export of 5 lakh tonnes of sugar to the Pakistan Sugar Mills Association with some terms and conditions, while the association had already been given permission to export 2 lakh tonnes of sugar.

The federal cabinet has now approved the decision of the ECC. The association was directed to give an affidavit that the sugar mills of Pakistan will start crushing sugarcane by November 21 for the marketing season of 2024-25 and the permission to export sugar will be canceled for the mills which do not comply with this condition.

The association will also be required to submit an affidavit that the ex-factory price of sugar will not exceed Rs 140 per kg.

The association submitted an affidavit accepting both these conditions and after that it got permission to export additional quantity of sugar.

Sugar mills are also required to ensure that the export process will be started only after receiving advance amount through banking channel for export to Afghanistan, while sugar can be exported to other countries by opening letter of credit.

Export shipment of sugar will be required within 90 days of receiving the quota. Pakistan currently has a considerable stock of sugar.